FP&A Manager

What makes a successful FP&A Manager?

An FP&A manager is responsible for ensuring that financial data flows from one department to another and that executives have access to relevant and accurate financial data to form strategy.

They need accurate data and visibility of all financial information, but without integrated data this can be time-consuming. Legacy systems force the FP&A manager to manage multiple spreadsheets and different versions of the same document without a clear version history.

These legacy processes clearly present issues…

78% of FP&A professionals plan to improve technology and data skills over the next year.

AFP benchmarking survey

They need to ensure that the information they are communicating to executives and other decision-makers is accurate and easy to understand, but also that the information presented tells a story containing accurate projection and forecasting of data.

^{How often does limited collaboration across an organization and incorrect or lack of up to date metrics impact your role as FP&A Manager?}^{(Please select one)}

Hourly
Daily
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How can digital transformation help the FP&A manager?

Without accurate data to hand, FP&A managers lack reliability and lose the trust of their peers when it comes to forecasting and financial planning operations.

By implementing digital solutions, such as Cloud accounting and finance software, the FP&A manager can be empowered to communicate financial information succinctly and clearly to partners, executives, and peers across their organization.

Version history is also a large obstacle to accuracy, as FP&A manager will spend lots of time trying to figure out which version is the most up-to-date. In the Cloud documents are constantly updated and saved for peace of mind when engrossed in data analysis and scenario planning.

With advanced reporting capabilities, they can easily generate near-real-time reports in a few clicks that they can be sure are accurate. Additionally, data visualization can be used to present data to peers in a comprehensible manner, using AI for forecasting and projecting the future.

This process of data accuracy starts with ensuring everyone in the financial team, down to the accountant level, is provided with digital tools that can ensure data accuracy from the moment it is consolidated, removing human error from the equation.

Removing manual data entry projects within the modern finance function will reduce time pressures, human error in data input, and inaccuracies in reports.

Discover how to transform FP&A managers role